Russian President Vladimir Putin agrees that a new digital payment mechanism for international settlements free of Western interference is required. Global financial institutions, according to President Putin, should reflect multipolar world realities and be established on open democratic principles. President Putin attended the 'Artificial Intelligence Journey 2022' international AI and machine learning conference in Moscow. The talk centred on artificial intelligence-based solutions for economic growth.  Furthermore, despite the sanctions and restrictions placed on his country, he emphasized the importance of establishing a new and independent international settlement system. President promised that the new system would be free of banks and third-party involvement.

The digital currency Putin claimed in his speech that international settlements are now under threat because of Russia's deteriorating relations with the Western superpowers. Sberbank, a Russian state-owned banking and financial services corporation headquartered in Moscow, was among the first to widely adopt artificial intelligence. Putin praised the bank's efforts, claiming that Sberbank's AI-enabled solutions improved the ease and quality of services provided to people, corporate clients, and organizations.

Sources:

https://www.investing.com/news/cryptocurrency-news/putin-embraces-digital-currency-as-international-payment-system-2952835

https://coinedition.com/putin-embraces-digital-currency-as-international-payment-system/

https://cointelegraph.com/news/putin-calls-for-blockchain-based-international-payment-system

https://coingeek.com/russia-eyes-use-of-digital-ruble-in-transacting-with-china/